Global R*

Ambrogio Cesa-Bianchi, Richard Harrison and Rana Sajedi Recent increases in interest rates around the world, following a multi-decade decline, have intensified the debate on their long-run prospects. Are previous trends reversing or will rates revert to low values as current shocks subside? Answering this question requires assessing the underlying forces driving secular interest-rate trends. In … Continue reading Global R* →